The government is expected to increase petrol and diesel prices for the upcoming fortnight, sources in the Finance Division have told Geo News, indicating another round of fuel price adjustments as part of ongoing economic measures.
According to the officials, the Oil and Gas Regulatory Authority (OGRA) has submitted its recommendations for revised ex-depot prices of petrol and high-speed diesel (HSD) after a review of global oil market trends and currency exchange fluctuations. The Finance Division is reviewing these recommendations ahead of a final decision.
If approved, the price of petrol and diesel will be raised for the period of 15 to 28 February, reflecting adjustments linked to international oil prices and the depreciation of the Pakistani rupee against the U.S. dollar.
The government periodically revises fuel prices on a fortnightly basis, considering global crude oil benchmarks, international freight costs, and local currency movement. Changes in these variables often lead to significant adjustments in domestic fuel costs, impacting transportation and inflation rates.
Officials said the proposed price increase aims to align domestic fuel rates with current international market conditions and to ease pressure on the national exchequer amid ongoing economic challenges.
A final decision on the revised petrol and diesel prices is expected after the Finance Division’s review, with the notification likely to be issued later this week. Motorists and transport sectors are advised to prepare for possible price changes that could affect logistics and commuting costs.